Houston Housing Stats March, 2023

[Sharon Tzib]

https://www.har.com/content/newsroom/

Houston Real Estate Highlights in March:

• -Single-family home sales fell 18.3 percent year-over-year, as the market continues its gradual return to normalcy;
• -Compared to pre-pandemic 2019, single-family home sales rose 13.0 percent;
• -All but the sub-$100,000 housing segment experienced negative sales;
• -Days on Market (DOM) for single-family homes rose from 38 to 62 days;
• -Total property sales fell 20.9 percent with 9,589 units sold;
• -Total dollar volume dropped 20.2 percent to $3.7 billion;
• -The single-family median price dropped 3.0 percent to $325,000;
• -The single-family average price was statistically flat at $408,647;
• -Single-family home months of inventory registered a 2.7-months supply, up from 1.1 months a year earlier;
• -Townhome/condominium sales experienced their 10th straight monthly decline, falling 35.3 percent, with the median price up 4.0 percent to $223,500 and the average price up 6.0 percent to $270,294;
• -Compared to pre-pandemic 2019, townhome and condominium sales were unchanged.